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Reducing contact center telephony costs by 50 percent is quite a feat. It is even more impressive when it happens in less than 90 days and also yields a 20-percent growth in revenue.

Yet that’s exactly what happened when First Choice Assets migrated to LiveVox’s (News - Alert) cloud-based contact center solution.

First Choice Assets, which specializes in receivables recovery and verification, needed a better call recording system and a way to keep pace technologically with the changing regulatory landscape. It went with LiveVox’s PCI (News - Alert)-Certified Cloud platform, an integrated suite that includes centralized call recording, dialer, ACD, IVR, skills-based routing and business analytics.

“Prior to LiveVox, achieving the level of transparency and control that we desired in our recordings would have cost us at least $20k-$30k per site – and that’s before the corresponding integrations,” notes Neil Walsh in a story for insideARM, president of First Choice Assets. “Given the fluid and complex nature of client and growing regulatory demand, the traditional option was simply not a viable business strategy.”

With a traditional in-house setup, single-side individual integrations are required to hook the platform into existing network applications such as CRM. Not only is that costly, it is also leaves the door open for gaps in data collection and matching.

With the LiveVox solution, First Choice Assets also has a recording of every call that can be called up from a single repository, including account information and agent data that is richly indexed and searchable. This gives the firm unprecedented transparency and litigation support.

“With LiveVox’s Centralized Call Recording application,” says Walsh, “we were not only able to avoid going down the standard CapEx and integration rabbit hole, we are now able to leverage a comprehensive database of agent/consumer audio to quickly and effectively respond to lawsuits by showing proof-positive that our agents are in compliance – reducing our legal costs by an incredible 75 percent.”

LiveVox chief marketing officer John McNamara told insideArm that reducing CapEx and responding to regulatory changes is a prime reason why more companies are moving to cloud-based contact center platforms.

 “As clients and regulators such as the CFPB demand transparency, businesses are looking for ways to safeguard their operations and implement best practices while avoiding large capital expenditures and complex integration projects,” says McNamara. “For multisite contact centers, cloud is proving to be the market’s answer to a fluid regulatory environment and tightening cash flow. I am delighted that we could assist Neil in his mission.”

Walsh adds, “LiveVox has not only given us a proactive defense against litigation, but an overall flexibility that allows us to expand and improve our other compliance strategies. Our goal is to ensure clients that we have the most effective operations while executing the most conservative compliance standards.  LiveVox has helped us get there.”